Market Bizzz

Shiv Chanani of Baroda BNP Paribas Mutual Fund observes the Indian market’s maturity. Domestic players are more prominent now. This reduces volatility. He suggests focusing on domestic plays over global ones due to global uncertainty. Consumption may rise from lower taxes and good monsoons. Pharma and healthcare are strong. Capital goods and power need careful stock picking.

Hindustan Aeronautics Limited has secured a Rs 511 crore deal. It will acquire the Small Satellite Launch Vehicle technology from ISRO. HAL will independently build and operate SSLV rockets. ISRO will provide training for the initial missions. HAL plans to manufacture six to eight SSLV rockets annually. The company aims to generate $6.5 million in revenue per launch.

Vedanta and Polycab India shares will trade ex-dividend from Tuesday, June 25th, following their dividend announcements. Vedanta declared an interim dividend of Rs 7 per share, while Polycab India announced a final dividend of Rs 35 per share. Alkyl Amines Chemicals will also trade ex-dividend. The record date for eligibility was June 24th.

A White Marubozu is a bullish candlestick pattern in technical analysis. It occurs when the opening price is the lowest for a given period, and the closing price is the highest.

Tata Capital is nearing its Rs 17,200 crore IPO after securing SEBI’s approval for its confidential draft prospectus, potentially launching in July. This move aligns with the RBI’s mandate for large NBFCs to list by September 2025. The company reported strong financial results, with a 31% increase in net profit for the March quarter.

In his GREED & fear report, Wood warned that valuations have become an issue again, most particularly in the mid-cap space, even as Indian markets rebound sharply from their April lows.

Foreign Institutional Investors reversed their June selling trend by buying ₹8,710 crore in Indian equities this week, triggering a market rally driven by financial, energy, and IT stocks. DIIs booked profits even as global uncertainty kept sentiment cautious.

Accenture’s shares plummeted despite exceeding third-quarter revenue expectations, driven by AI-related service demand. The company faces challenges from reduced U.S. federal contracts. Consequently, Indian IT ADRs like Infosys also declined, while domestic IT stocks showed mixed performance, with gains in tier-2 companies and HCL Technologies, contrasting with losses in Infosys and LTIMindtree.

Sebi Chairman Tuhin Kanta Pandey announced that the NSE IPO faces no remaining obstacles, though he refrained from providing a specific timeline. He clarified that the ownership structure of clearing corporations is not hindering the IPO. Pandey also mentioned NSE is resolving legal matters, involving payments and case withdrawals, while Sebi is proceeding cautiously with the ‘T+0’ settlement period.

Biocon, a leading biopharmaceutical company, successfully raised Rs 4,500 crore through QIP. This marks their first equity funding since 2004. The QIP saw strong interest from domestic and international investors. The raised capital will be used to purchase debentures and repay borrowings. Kotak Mahindra Capital, BofA India Securities, and Goldman Sachs (India) Securities managed the QIP.